Common commentary down under:

“I was at (insert cafe/shopping centre/restaurant) and it was packed. People aren’t suffering yet…” blah, blah, yadda, yadda

My hunch is that there is actually two sides to this coin:

- Low debt Gen X and Boomers are in the sweetest spot in history. All assets, including cash (yes, that dirty fiat y’all despite), is producing a return. They’ve had a massive run up in asset prices, if they aren’t levered to the tits, then disposable income is fine

- low asset Millennials and younger who don’t see hope in ever owning a home live for the moment. Yeah the probably DCA low amounts into something, maybe YOLO into bitcoin or have a crack at some sort of 💩coin….but there week to week pay checks are for having fun now. Fuck it, you know?

So we still have some busy consumer spending. Even though we are in the midst of long per capita recession, severe decline in “living standards” and an inflationary shit fight.

Not sure what else to say here - just thinking out loud.

Thoughts #austriches ?